Green growth: From intention to implementation

Green growth involves transforming production and consumption processes in order to maintain or restore the regulatory functions of the planet's natural capital. It requires that environmental factors be treated as an essential factor of production and not merely an externality. In practice, this transition depends on advances being made in four areas: widening the concept of efficiency; energy transitions; inclusion of the value of natural capital in economic life; and a revision of the scale of risks within the financial system whose innovations for allocating resources at low cost to green growth would be greatly facilitated by effective pricing of environmental pollution.